Harbor Capital Advisors Inc., an institutional investor, has recently acquired a new stake in Archrock, Inc. during the second quarter of the year. According to its most recent filing with the Securities and Exchange Commission (SEC), Harbor Capital Advisors Inc. now owns 99,225 shares of Archrock, valued at approximately $1,017,000. At the end of the most recent quarter, this stake represented 0.06% of the energy company’s outstanding shares.
Archrock, Inc., a leading provider of natural gas compression services in the United States, also made an announcement regarding its quarterly dividend. Shareholders who were recorded as owners on Tuesday, August 8th received a dividend payment of $0.155 per share on Tuesday, August 15th. This represents an increase from Archrock’s previous quarterly dividend of $0.15.
With an annualized basis of $0.62 and a yield of 4.98%, Archrock’s new dividend payout ratio stands at a substantial 144.19%. The ex-dividend date for this increased dividend was Monday, August 7th.
This development indicates that Archrock is focused on delivering value to its stakeholders through consistent dividends and increased payouts over time.
Overall, Harbor Capital Advisors Inc.’s acquisition of stakes in Archrock highlights growing interest and confidence from institutional investors towards this energy company. With its strong presence in providing natural gas compression services and a demonstrated commitment to rewarding shareholders through dividends, Archrock continues to position itself as a reliable investment option within the energy sector.
As always when considering investing or making financial decisions, it is advisable for individual investors to conduct their own thorough analysis and seek professional advice if needed before proceeding with any investment strategies related to companies such as Archrock, Inc.
Please note that the information referenced in this article is based on data available up until September 19th ,2023
Updated on: 27/09/2023
Debt to equity ratio: Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
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Archrock, Inc. Witnesses Increased Investor Holdings and Positive Outlook
Archrock, Inc. (AROC), a prominent energy company, recently witnessed several modifications in its investor holdings. Notably, JPMorgan Chase & Co. grew its stake in Archrock by an astonishing 66.8% during the first quarter of this year. The investment firm now owns a staggering 669,028 shares of Archrock’s stock, valued at $6,175,000 after acquiring an additional 267,886 shares during the specified period.
In a similar vein, Citigroup Inc. also boosted its share holdings in Archrock by 6.8% during the first quarter. With this increase, Citigroup Inc. now possesses approximately 129,456 shares of the energy company’s stock amounting to $1,194,000.
Diversification seems to be a key strategy among these major investors as well. Natixis Advisors L.P., for instance, acquired a new position in Archrock during the same period with an investment worth $308,000. This highlights the increasing presence and attraction of Archrock within the market.
Moreover, notable institutional investors like Healthcare of Ontario Pension Plan Trust Fund have also displayed confidence in Archrock by acquiring a new position during the first quarter that amounts to a substantial $1,081,000.
MetLife Investment Management LLC also demonstrated their faith in Archrock’s potential by increasing their holdings by an impressive 53.7% during the first quarter. This elevates their ownership to holding 75,819 shares priced at $700,000.
Importantly, it is necessary to acknowledge that these aforementioned institutional investors currently possess about 81.53% of Archrock’s stock—an undeniable indicator of both their trust and confidence in the company’s future prospects.
The growing recognition and optimism surrounding Archrock can also be attributed to research firms that have issued favorable reports about the company’s performance and outlook on Wall Street lately.
Stifel Nicolaus, for instance, has recently upped their price objective on Archrock from $13.00 to $17.00 while giving the stock a “buy” rating in their report released on August 2nd. Similarly, TheStreet raised Archrock’s rating from “c+” to “b-,” further affirming its potential.
Continuing this trend of positive ratings, Royal Bank of Canada increased Archrock’s price objective from $15.00 to $17.00 and granted it an “outperform” rating in their report released on the same day as Stifel Nicolaus.
Raymond James also showed notable confidence in Archrock by elevating their price target from $13.00 to $14.00 and bestowing upon the company an “outperform” rating in August.
Although StockNews.com initiated coverage with a more moderate “hold” rating on August 17th, it is vital to acknowledge that all reports collectively suggest a favorable prospect for Archrock.
As per Bloomberg estimates, the company currently holds an average rating of “Moderate Buy,” thereby reaffirming its desirability among investors. Additionally, analysts have set an average price target of $16.00 for Archrock shares.
On September 19, 2023, AROC opened at an initial value of $12.46—an impressive testament to its stability and market presence. It is noteworthy that the company has shown resilience throughout the year with a 12-month low of $6.28 and a high of $13.26 showcasing consistent growth within this period.
Furthermore, Archrock boasts robust financial figures, including a quick ratio of 0.92 and a current ratio of 1.57—statistics that underline its ability to meet short-term obligations.
Additionally, a debt-to-equity ratio of 1.92 reveals responsible borrowing practices implemented by the energy behemoth.
Archrock also leads with commendable averages of $12.10 for its fifty-day simple moving average and $10.69 for the two hundred day simple moving average, which attest to its formidable position in the market.
Notably, Archrock released its quarterly earnings data on July 31st, 2023. The energy company surpassed analysts’ consensus estimates, reporting an impressive earning per share (EPS) of $0.18—a notable $0.04 higher than anticipated.
Moreover, Archrock secured a net margin of 7.36% and a return on equity of 8.21%, exemplifying both operational efficiency and profitability within the sector.
The company also recorded substantial revenue figures during this period, generating approximately $247.54 million compared to analysts’ expectations of $241.78 million—a testament to Archrock’s robust operational performance amidst dynamic market conditions.
Based on research analyst predictions, Archrock is set to post an EPS estimate of 0.64 for the current year—a promising projection that further bolsters investor confidence in the company’s long-term growth prospects.
Taking all these factors into account—from optimistic institutional investor holdings to stellar analyst ratings—it is evident that Archrock continues to solidify its presence as a key player within the energy industry. With consistent financial performance and favorable projections for